Who Wants to be a Deficit Trillionaire? Too Late!

WASHINGTON (MarketWatch) — The U.S. recorded a federal budget deficit of $94.3 billion in June, pushing the cumulative deficit so far this year to a record $1.08 trillion, the Treasury Department reported Monday.

Outlays rose in June to $309.6 billion, while receipts climbed to $215.3 billion in the month.

Among the outlays for June is $11.3 billion in Troubled Asset Relief Program funds, the bailout program for banks and U.S. automakers.

At this time last year, the cumulative federal budget deficit was just $285.8 billion.

We’ll need a comprehensive national energy policy just to keep Treasury’s printing presses running at full speed.